News

In a brief statement, The International Audio Group (IAG) announced on June 28 that it has purchased the Mission business from the Administrators of Symphonix. In a separate transaction, IAG reports that it has also purchased the Mission brandname from NXT.

According to Tim Harris, Managing Director of IAG UK, "The Mission product portfolio is exceptionally strong and selling well. However, the company has suffered severe, and well-documented, financing issues during the past 12 months. This new deal puts Mission on a very strong financial footing, allowing its many successful product ranges to continue in the market. Furthermore, with full access to IAG's considerable manufacturing infrastructure, Mission will now be in an ideal position to pursue—with the utmost vigor—its long-held commitment to technical innovation and product excellence."

Mission had previously announced a major marketing push into North America with the launch of its new distribution arm, Mission USA in January 2004.